Global Hospitals raises Rs. 200 crore; receives fresh funding from investors.

Hyderabad-based Global Hospitals has received fresh funding of Rs. 200 crore from a group of investors including the promoters of the healthcare group. The deal values the hospital chain, which plans to expand operations in emerging markets like Africa at about Rs. 2,000 crore.

'The cash-burn is behind us and we are planning to ramp-up,' said Chandra Sekhar, executive director of Global Hospitals. A 150-bed secondary care unit being set-up in Tanzania with support from local investors is expected to be ready soon and turn profitable by three years.

The majority stake in the company is held by apromoter group - Ravindranath GE associates - which includes the chairman and managing director K Ravindranath. The current round of funding was led by both the US and India-based investors who picked up a 20% stake.

The chain with a presence in Hyderabad, Chennai, Bangalore and Mumbai turned profitable last year and is expected to earn revenue of Rs. 780 crore in fiscal 2015.


ET